GTIS Partners JV Kicks Off 933 KSF Campus
GTIS Partners and Collett Industrial has started construction on the first phase of Stateline 85, a 933,120-square-foot, three-building industrial campus in Blacksburg, S.C., within the Greenville market. The first two facilities are expected to come online by next summer. Cushman & Wakefield will oversee leasing efforts for the entire industrial park.
This marks the third partnership between the two companies. In 2022, the duo formed a $140 million joint venture to develop two adjacent projects within the same market.
The first phase of the development will comprise the 198,720-square-foot Building 1 and Building 2 of about 224,640 square feet. The first facility will have 32-foot clear heights, 171 auto parking spots and 50 trailer stalls, while the second one will have 36-foot clear heights, 175 vehicle spaces and 63 trailer spaces.
The second phase will consist of a build-to-suit facility that can measure approximately 500,000 square feet.
The campus is taking shape at 212 Tribal Road, providing easy access to Interstate 85. Downtown Blacksburg will be within 4 miles, while downtown Greenville will be some 62 miles southwest. Charlotte Douglas International Airport is less than 36 miles away.
Cushman & Wakefield Director Drew Coholan, Executive Managing Director Matt Treble and Executive Director Fermin Deoca are taking care of leasing the entire project.
More industrial projects underway in Greenville
Year-to-date through June, the Greenville-Spartanburg market saw about 1.3 million square feet in speculative industrial deliveries, according to a CBRE market report. Additionally, the metro’s under-construction pipeline at the end of June clocked in at 6.9 million square feet, out of which just 1 million square feet is build-to-suit.
Earlier this year, Crescent Communities completed AXIAL Crosspoint, a three-building, 558,000-square-foot industrial campus in Greenville, S.C. The developer broke ground on the 72-acre park in June 2022 using funds from a construction note originated by Santander Bank.
In November, Nissin Foods USA announced plans for a $228 million manufacturing plant in Greenville County, S.C. The 640,640-square-foot facility will feature sustainable elements and is scheduled for completion in August next year.
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